My seller authorized the offering of concessions to the buyer. I know that we have the choice of including that information in the marketing remarks, but can we say that the seller will pay “up to” a specific amount?
No. If the seller authorized a specific amount in Paragraph #11 of the West Michigan Regional Purchase Agreement, MLS Policy gives the listing agent/broker the option of publishing that specific amount, simply saying that concessions are being offered, or remaining silent to it altogether and allowing negotiations to occur. Use of the “up to” language doesn’t accurately reflect what the seller stated in the listing agreement since that paragraph doesn’t include the “up to” language, rather it states an amount. We understand that this may seem like semantics since any amount offered needs to be negotiated/confirmed in the purchase agreement to be binding, but, if amounts are being posted on the MLS, they need to present a ‘true picture’ as to what was being offered in the listing agreement.
